Standard Bank has assured South Africans that it is addressing all complaints it was receiving and that it had the necessary measures and mechanisms in place to protect customers.
This comes after a number of the bank’s clients complained on social media and to the bank about illegal transactions on their accounts.
The bank said that their fraud mitigation measures continue to protect and inform customers of any potential fraud on their accounts.
Standard Bank said that they are continuing to receive customer queries relating to potential fraud.
“Due to the nature of these incidents, Standard Bank issued a direct fraud notification to impacted customers on (Tuesday) July 2, 2024,” the bank said.
The notification from the bank resulted in increased call volumes to the call centre which had an impact on call waiting times.
Standard Bank also said that they were aware of fraud attempts on some international transactions.
The bank said that their fraud detection systems will identify and block any suspected fraudulent transactions and/or cards that have been impacted.
Standard Bank will reissue replacement cards for any cards that are blocked due to potential fraud. This is in line with the bank’s standard practice.
The bank is asking customers to use the Standard bank app and internet banking to report fraud or manage their cards and payments.
Please be assured that our team is working tirelessly to mitigate the occurrence of fraud on our clients accounts. In the meanwhile, we ask that you please stop your card on the app and send an email to our fraud team at [email protected] for urgent assistance.
Each case of alleged fraud will be evaluated on its individual merits to ensure a fair resolution for customers, according to Standard Bank.
“We will continue to communicate with impacted customers to address their complaints in line with our zero-tolerance approach towards fraudulent activities,” Standard Bank said.
The bank apologised for any delays experienced and assures customers that they are taking steps to protect them.
Fraudulent transactions
Complaints from Standard Bank customers peaked on Tuesday as X users complained about thousands of rands suddenly being taken out of their bank accounts and multiple fraudulent transactions.
I had over R25k taken last night on my standard bank credit card in 2 separate transactions.
— Steven Randall (@RANDYCTZA) July 2, 2024
I had over R25k taken last night on my standard bank credit card in 2 separate transactions.
@StandardBankZA
— Losika Vahlf-Gahng Monang (@Le_Vahlf) July 2, 2024
We (YOUR CUSTOMERS‼️) need an explanation.
Has there been a mass data breach!? Have our accounts been compromised!?
Why are there MULTIPLE reports on fraudulent transactions from Standard Bank account holders ‼️⁉️
@StandardBankZA fraudulent transactions have been going off my account. I tried blocking my card but the Standard Bank app wasn’t working. While holding for close to an hour without any assistance, I checked Twitter (X) only to find out that people have been complaining.
You not the only one have 2 transactions that went out of my account, still no answer on hold for 40 minutes, went through chats and we all having the same issue standard bank has been hacked
— Big Moss🇿![CDATA[]]>🇦 (@BiggMosss) July 1, 2024
IOL